about account add arrow-down arrow-left arrow-right arrow-up back-arrow register-arrow book-mobile book categories chat-bubble-mobile chat-bubble close college contact-us credit-card drag email-square facebook-mobile facebook-square facebook faq film history home load modal-error person pinterest-square play-mobile play queue remove resume search share show star tick trailer trash twitter-mobile twitter-square twitter university warning warning youtube-square open-eye close-eye promo-tag tag check info info active
4

Reference Dependence—Economic Implications

Lecture no. 4 from the course: Behavioral Economics: When Psychology and Economics Collide

Reference Dependence—Economic Implications

Taught by Professor Scott Huettel | 28 min | Categories: The Great Courses Plus Online Economics & Finance Courses

“Reference dependence” is one of the most central concepts in behavioral economics. Learn how human beings use value to create an expectation or reference point in many decision-making situations, leading to biases that affect choices. Consider how these biases influence both individual and market behavior, and how understanding them can help us make better decisions.

Reviews

d********m
October 27, 2016

Reply

Delete

z********m
March 9, 2016

Reply

Delete